First Rental- basic math

[Nate W.]

First investment property. Choosing between two newly developed units in Utah. 15-yr mortgage. Breakdown:

• SALT LAKE COUNTY (near main I-15 freeway):
  • 2-bedroom: $220k (not including any other closing fees), projected monthly rent $1,600+, monthly HOA $100+, common/shared swimming pool.
  • 3-bedroom: $250k (not including any other closing fees), projected monthly rent $1,800+, monthly HOA $100+, common/shared swimming pool.
• WASATCH COUNTY (near local public high school):
  • 3-bedroom: $245k (not including any other closing fees), projected monthly rent $1,600+, monthly HOA $125+, onsite property management fee (screening, leasing, marketing, managing) $100/month, common/shared swimming pool and sport court.

The market in Utah is not as prime as most markets but I'm choosing to stay here with my first investment. What am I missing or are there superior opportunities? I prefer a newer unit so I don't have to hire property management the first few years and I don't have to really fix anything. I encourage ALL feedback! Thanks!